AUDJPY: Price Anticipates a Rise Soon

The currency pair anticipates a rise soon as the bulls remain dominant.
Price pullback is pertinent at the current support level.

AUDJPY Weekly Price Analysis – September 22
AUDJPY price anticipates a rise soon as the Yen is currently facing high buying pressure. Meanwhile, the pair might increase further if the bulls can add more aggression to the buying momentum. If this is achieved, the target may be the $110.00 upper resistance level, signaling a buy potential for the bulls.

AUDJPY Market
Key Levels:
Resistance levels: $97.00, $98.00, $99.00
Support levels: $90.00, $89.00, $87.00

AUDJPY Long-term Trend: Bearish (Daily Chart)

The daily chart shows that the AUDJPY price is bearish. Meanwhile, the yen anticipates a rise soon as it continues to trend and correct below the supply levels. The price action is below the moving averages, suggesting a bearish trend.

Sellers’ increased momentum to the $94.16 support level in the past few days has sustained the AUDJPY price below the resistance levels in its recent high.

Today, the AUDJPY buyers took the journey up north at the $98.30 high mark below the EMA-50, as it continues correcting, shortly after the commencement of the daily chart, anticipating a rise soon.

Hence, if the bullish correction phase persists, the new correction may drive the AUDJPY price to retest the $109.15 previous barrier, indicating a growing buy pressure.

However, the bulls also anticipate a rise soon, as suggested by the daily signal pointing upwards. In light of this, the buy traders may continue the bullish correction, and the target might be the $110.00 upper supply mark in the days ahead as the pair anticipates a rise soon in its higher time frame.

AUDJPY Medium-term Trend: Bullish (4H Chart)

The momentum on the medium-term time frame is distinctly bullish as the bulls anticipate a further rise soon. Nevertheless, it seems the bulls will take over the price of AUDJPY soon and push us higher as the market remains in an uptrend, despite the moves from the sell traders.

Today’s 4-hourly chart at the $97.72 support level has not stale the bullish run as it remains above the supply level, anticipating a rise soon. This will give the buy traders the motive to influence the price tendency.

Meanwhile, the AUDJPY price is anticipated to rise soon, should buyers eventually wrestle trend control from sellers and rebound from $97.72 support, a positive breakout above the current support is needed to confirm the potential rise.

Hence, if a renewed surge in buyers occurs, the AUDJPY price might reverse to hit the previous barrier at the $101.00 supply level and extend further to a $110.00 upper resistance value, as it anticipates a rise soon in its medium-term view.

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